Beijing SOJO Electric Co., Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on December 26, 2019.
January 23, 2020 at 09:30 pm IST
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Beijing SOJO Electric Co., Ltd. (SZSE:300444) commences share repurchases on January 23, 2020, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 26, 2019. As per the mandate, the company is authorized to repurchase its shares for not more than CNY 50 million. The shares will be purchased at a price not exceeding CNY 7.5 per share. The repurchases will be funded using company's own funds. The repurchased shares will be used for the implementation of equity incentive plan or employee stock ownership plan. The repurchase program is valid for a period of 12 months from shareholders' approval.
Beijing Sojo Electric Co Ltd is a China-based company principally engaged in the research, development and sales of power transmission and distribution equipment. The main products of the smart electrical business are power transmission and distribution equipment and control systems below 40.5kV, including ring main units, pole-mounted switches, complete sets of high and low voltage switch cabinets, a full range of low voltage switch cabinets, power quality management and other products, and a full range of 110kV and below Transformers, prefabricated and box-type substations, distribution network automation monitoring systems and other distribution automation products. The smart energy business is mainly engaged in photovoltaic engineering, procurement and construction (EPC) business, energy storage business, electricity sales business, power operation and maintenance business and wind power and other new energy businesses.
Beijing SOJO Electric Co., Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on December 26, 2019.
BEIJING SOJO ELECTRIC CO., LTD. 
